Siemens AG Named by Weiss & Lurie in Class Action
December 07 2009
NEW YORK, December 7, 2009/BusinessWire/ -- A class action lawsuit against Siemens AG (“Siemens”) (NYSE:SI) was commenced in the United States District Court for the Eastern District of New York on behalf of purchasers of the American Depository Receipt Shares (“ADRs” or “shares”) of Siemens between November 8, 2007 and April 30, 2008 (the “Class Period”).
The complaint charges Siemens with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, Siemens made materially false and misleading statements concerning its ability to generate revenues and achieve earnings expectations once it had put an end to systemic and extensive fraud, bribery and other illegal and corrupt activities in order to obtain contracts or retain business. As the truth was revealed, Siemens shares plummeted, causing damages of billions of dollars to Siemens shareholders.
This action seeks to recover damages on behalf of investors who purchased Siemens shares during the Class Period. Plaintiff is represented by Weiss & Lurie, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of shareholders in federal and state courts throughout the United States. Weiss & Lurie has been responsible for collectively recovering more than a billion dollars on behalf of class members and is one of the nation’s leading firms representing shareholders in securities class actions.
If you purchased Siemens shares during the Class Period, you may move the court no later than February 5, 2010, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
If you want to obtain a copy of the complaint or want more information about Weiss Law LLP or this action, or if you want to obtain a Certification form to serve as a lead plaintiff, please visit http://www.weisslurie.com. If you wish to receive an investor package or if you wish to discuss this action, have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact: